Microsoft stock pops 8% on earnings beat as Azure annual revenue tops $75 billion

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shares jumped 8% in extended trading on Wednesday after the company reported better-than-expected earnings and revenue for the fiscal fourth quarter.

Here’s how the company performed in comparison with LSEG consensus:

Microsoft called for $74.7 billion to $75.8 billion in fiscal first-quarter revenue. The middle of the range, at $75.25 billion, exceeded LSEG’s $74.09 billion consensus. The company sees 37% Azure growth at constant currency. StreetAccount’s consensus was 33.7%.

Microsoft’s revenue increased 18% in the fiscal fourth quarter ending June 30, up from $64.7 billion a year earlier, according to a statement. That’s the fastest growth in more than three years. Net income increased to $27.23 billion from $22.04 billion a year ago.